Natwest Can I Withdraw Money Abroad

I'll explain what Natwest charges for an international payment, how long it takes, the information you will need, and how you can make a Natwest international transfer.
Hopefully, it will save you time reading pages of bank jargon and complicated fee schedules.

Natwest international transfer fees

If you carry out a regular international payment with Natwest, the transfer fee is 0.3% of the amount sent, although there is a maximum of £40.

As a quick example; on a £10,000 international transfer, you would pay a £30 fee.

If you use the Natwest internet banking service (ibanking plus), the fees are slightly different.

Under £5,000, there is a flat fee of £15.
Over £5,000, the fee is 0.3% with a maximum of £40.

Other Natwest fees

Natwest also has various other fees.

I'll talk you through each type below.

If you want to speed up the time taken for an international payment, Natwest charges an additional£15 priority payment fee.

You may also find that Natwest adds a£10 agents fee to the cost of your international payment.

An agents' fee is essentially a fee paid to another bank who helps facilitate your international transfer. Natwest says it will be added "where applicable". Not very enlightening, I'm afraid.

If you are planning to receive money from abroad, Natwest also charge a £7.50 recipient fee for payments over £100.

In many ways, the fees are just a distraction.

For most international money transfers, the bulk of the cost is from the exchange rate.

If you want to avoid paying bank fees for your international payment, you can use a money transfer specialist such as ourselves.

We don't charge any fees.

Get a free quote

Natwest exchange rates (the main cost)

Natwest seem to dedicate a lot of space on their website to the various fees they charge.

In fact, exchange rates barely get a mention.

But the exchange rate is usually the main cost of an international money transfer.

The exchange rates charged by Natwest have a profit margin added to them. In some cases, a rather larger margin.

There is not a standard exchange rate margin used by Natwest for all international payments.

It depends on the currency you need and the size of your money transfer.

As a ballpark, you can expect an exchange rate cost of between 3%-4%, unless you are looking to transfer a large amount (over £50,000).

That is in addition to the various fees mentioned above.

While 3%-4% doesn't sound like much, when it comes to exchange rates, small differences matter.

As an example; say you are buying a holiday home in France for £50,000.

If Natwest charged you an exchange rate margin of 4%, that would equate to £2,000 in exchange rate costs alone!

You can see how the exchange rate costs can dwarf the fees.

Before using your bank, my advice is to always make a comparison first.

A trusted and helpful alternative: Key Currency

You are not obliged to use Natwest just because they have your money.

These days you can just as easily use a money transfer company.

Key Currency is a leading money transfer specialist based in the UK.

Importantly, we don't make you download an 'app' or send your life savings over the internet.

We offer you a person-to-person service – like the banks used to offer.

We will assist you throughout the entire process, and can even offer you guidance on exchange rates.

Getting some guidance on exchange rates can help you avoid losing money through bad timing and adverse currency fluctuations.

Our company has a5-star "Excellent" customer rating on Trustpilot; the highest customer rating available for our industry.

You also have the peace of mind knowing that all money transfers are conducted through safeguarded client accounts, and Key Currency is an FCA regulated Authorised Payment Institution (No. 753989).

Why not get a no-obligation quote and see what you can save.

Get a free quote